Pidilite Industries has received approval from Board of Directors for acquiring 100% stake in Huntsman Group’s (USA) subsidiaries in India namely ‘Huntsman Advanced Materials Solutions’ (HAMSPL). This is for a cash consideration of approximately Rs 2100 crore, excluding customary working capital and other adjustments, subject to certain preconditions being met prior to the closing of the transaction.
HAMSPL manufactures and sells Adhesives, Sealants and other products under well-known brands such as Araldite, Araldite Karpenter and Araseal in India.
Pidilite Industries is a well-known name in the adhesives market.
